Latest news with #SOUMYAJITSAHA
Nikkei Asia
4 days ago
- Business
- Nikkei Asia
Indian developers' premium shift puts homes out of reach for many
Between 2022 and 2024, the supply of new houses costing less than 5 million rupees fell 94% in Mumbai, while projects worth 5 million to 10 million rupees declined 56%. (Photo by Ken Kobayashi) SOUMYAJIT SAHA MUMBAI -- A move by Indian developers into premium homes has contributed to a near halving of the supply of new homes that cost less than 5 million rupees ($58,000) over the last two years, deepening India's urban housing crisis by pushing properties out of the reach of even its burgeoning ranks of salaried workers. The supply of such properties fell 43% between 2022 and 2024 in India's 13 biggest urban areas, according to data from real estate analytics specialist PropEquity shared with Nikkei Asia, as builders moved toward upscale offerings with bigger margins. Supply of new properties that cost between 5 million and 10 million rupees fell 29% over the same period.
Nikkei Asia
4 days ago
- Business
- Nikkei Asia
India's HDB Financial rises 15% on first trading day after year's largest IPO
IPO Lender's $1.46bn offer was oversubscribed nearly 17 times over last week HDB Financial Services, a unit of India's largest private lender, HDFC Bank, provides a mix of personal and enterprise loans. © Reuters SOUMYAJIT SAHA MUMBAI -- Shares in Indian nonbank lender HDB Financial Services rose 15%, at one point, from their initial public offering price in their market debut on Wednesday, as investors flocked the country's largest IPO this year. The company's shares began trading at 835 rupees on the National Stock Exchange (NSE), up 95 rupees (13%) from their IPO price of 740 rupees, and then rose to the day's high of 851.40 rupees in the afternoon.
Nikkei Asia
4 days ago
- Business
- Nikkei Asia
India's HDB Financial rises 13% after year's largest IPO
IPO Lender's $1.46bn offer was oversubscribed nearly 17 times over last week HDB Financial Services, a unit of India's largest private lender, HDFC Bank, provides a mix of personal and enterprise loans. © Reuters SOUMYAJIT SAHA MUMBAI -- Shares of Indian nonbank lender HDB Financial Services rose 13% in early trade on Wednesday from their initial public offering price in their public market debut, after the country's biggest initial public offering so far this year, worth 125 billion rupees ($1.46 billion). The stock opened at 835 rupees on the National Stock Exchange, up 95 rupees from its IPO price of 740 rupees. That IPO price gave the company a market capitalization of 614 billion rupees.
Nikkei Asia
24-06-2025
- Health
- Nikkei Asia
Novo Nordisk launches Wegovy in India as weight-loss market heats up
Boxes of Wegovy are displayed at a London pharmacy in early 2024. © Reuters SOUMYAJIT SAHA MUMBAI -- Danish pharmaceutical major Novo Nordisk on Tuesday launched its Wegovy weight loss drug in India, debuting the medicine ahead of schedule and just months after American rival Eli Lilly began offering its own popular product in the country, which is grappling with rising obesity. Wegovy, also known as semaglutide, is being launched in five different dosage sizes, ranging from 0.25 milligrams, priced at about 4,366 rupees ($50) per week, to 2.4 mg, which will cost around 6,503 rupees a week. That will make the drug much cheaper than in the U.S., where a dosage of 2.4 mg costs $337 per week.
